In late November 2016, a local Owensboro, Ky., news report proclaimed that everything was going fine at the new Bluegrass Music Museum & Hall of Fame. However, on Jan. 9, general contractor Peyronnin Construction Co., which had completed the building’s steel frame, filed for protection from creditors in U.S. federal court in the company’s Evansville, Ind., home city, stalling the $9.4-million museum job and other projects.
The contractor filed under Chapter 7 of the U.S. Bankruptcy code, meaning its intention is to sell off its assets and never resume operations. Employees still are returning equipment back to the company’s Evansville headquarters, says Stacy Wissel, the bankruptcy trustee. She added that she hoped to employ an auctioneer to sell the equipment in March.